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Financial literacy: Teaching kids about moneyFFinancial literacy: Teaching kids about moneyFinancial literacy: Teaching kids about moneyEnglishNAPreschooler (2-4 years);School age child (5-8 years);Pre-teen (9-12 years);Teen (13-18 years)NANAHealthy living and preventionCaregivers Adult (19+)NA2012-03-28T04:00:00Z000Flat ContentHealth A-Z<p>Follow these money milestones to teach your preschooler, tween or teen about the basics of money.</p><p>Parents can teach money management to kids of any age. Whether your child is in preschool, middle school or high school, follow these simple money milestones.</p><h2>Key points</h2><ul><li>When teaching money to preschoolers, start by teaching them to practice patience and how to count.</li><li>School-aged children can begin receiving an allowance and learning the cost of household items.<br></li><li>Tweens will feel empowered about money if they have a savings account. Teach them to be critical consumers by talking about how advertising companies work.</li><li>Teach your teenager about money by talking about how investing works and suggesting a part-time job.</li></ul>
Apprendre aux enfants à gérer l’argentAApprendre aux enfants à gérer l’argentFinancial literacy: Teaching kids about moneyFrenchNAPreschooler (2-4 years);School age child (5-8 years);Pre-teen (9-12 years);Teen (13-18 years)NANAHealthy living and preventionCaregivers Adult (19+)NA2012-03-28T04:00:00Z000Flat ContentHealth A-Z<p>Apprenez à votre enfant les principes de base de la gestion de l’argent selon qu’il soit d’âge préscolaire, qu’il ait atteint l’âge scolaire.</p><p>Les parents peuvent enseigner à leurs enfants comment gérer l’argent à tout âge. Que votre enfant soit d’âge préscolaire ou qu’il aille à l’école primaire, intermédiaire ou secondaire, voici des façons simples de lui apprendre à gérer l’argent. </p><h2>À rete​nir </h2><ul><li>Pour enseigner aux enfants d’âge préscolaire à gérer l’argent, apprenez-leur d’abord à patienter et à compter.</li><li>Lorsque les enfants atteignent l’âge scolaire, commencez à leur donner une allocation et à leur apprendre le coût des articles de maison.</li><li>En leur ouvrant un compte d’épargne, les préadolescents auront le sentiment de maîtriser la gestion de l’argent. Encouragez-les à devenir des consommateurs avertis en leur expliquant ce à quoi sert la publicité.</li><li>Enseignez aux adolescents à gérer l’argent en leur expliquant les rouages des placements et en leur proposant de travailler à temps partiel.</li></ul>

 

 

Financial literacy: Teaching kids about money648.000000000000Financial literacy: Teaching kids about moneyFinancial literacy: Teaching kids about moneyFEnglishNAPreschooler (2-4 years);School age child (5-8 years);Pre-teen (9-12 years);Teen (13-18 years)NANAHealthy living and preventionCaregivers Adult (19+)NA2012-03-28T04:00:00Z000Flat ContentHealth A-Z<p>Follow these money milestones to teach your preschooler, tween or teen about the basics of money.</p><p>Parents can teach money management to kids of any age. Whether your child is in preschool, middle school or high school, follow these simple money milestones.</p><h2>Key points</h2><ul><li>When teaching money to preschoolers, start by teaching them to practice patience and how to count.</li><li>School-aged children can begin receiving an allowance and learning the cost of household items.<br></li><li>Tweens will feel empowered about money if they have a savings account. Teach them to be critical consumers by talking about how advertising companies work.</li><li>Teach your teenager about money by talking about how investing works and suggesting a part-time job.</li></ul><h2>Talking about money to your preschooler (2 to 4 years old)</h2><h3>Practice patience</h3><p>At this age, your preschooler can start learning the importance of not getting things immediately. Try not giving into their wants right away. For instance, if your toddler demands a candy, ask them to wait 10 minutes for two candies. Encourage them to have patience. The benefits of delayed gratification will prove useful as they get older and start handling money. </p><h3>Teach preschoolers to count</h3><p>Preschoolers are too young to understand the concept of money. But it’s a great age to introduce the basic <a href="/Article?contentid=722&language=English">math skills</a>, such as counting. Studies show engaging in simple math activities with toddlers significantly predicts their skill level in math later on. For example, give your child a mixture of coins. Have them count how many there are. After introducing the name of each coin, let your child pick out a new coin every week. Along with improving their math skills, they will learn the name and value of each coin.</p><h2>Talking about money to your school-aged child (5 to 8 years old)</h2><h3>Start giving an allowance</h3><p>Many experts agree that a good age to start giving your child an allowance is when they enter their <a href="/yourschoolagechild">school-age years</a>. This will help them learn the skills of saving and waiting to get something they want to purchase. </p><h3>Teach the cost of household items</h3><p>Most eight-year olds have grasped basic math skills like addition and subtraction. Let your child help with the basic adding and subtraction when balancing your checkbook. This exercise teaches that bill payments are a reality when you grow up; but paying bills is not a problem if you save money. </p><h2>Talking about money to your tweens (9 to 12 years old)</h2><h3>Open a savings account</h3><p>Opening a savings account for your <a href="/yourpreteen">tween</a> gives a sense of ownership. It fosters the ability to save up for things your child needs and wants. However, make sure you control withdrawals. Your child should talk to you about large purchases first. For additional incentive, you can even offer to match every dollar your child contributes. </p><h3>Teach how advertising works</h3><p>Many tweens and adolescents are exposed to the constant pressure of conforming. Advertisers use marketing techniques to manipulate this insecurity. Studies show that <a href="/Article?contentid=643&language=English">kids are a continual target of many advertising companies</a>. To help your tween become more critical of advertising, go through a magazine together. Point out the many different advertisements. Talk about how marketers manipulate emotion to sell a product. Do the same exercise with your child when watching TV commercials. Over time, your child will learn how branding works and become a more critical consumer. </p><h2>Talking about money to your teenager (13 to 18 years old)</h2><h3>Learn the basics of investing</h3><p>By now, your <a href="/yourteen">teenager</a> should have heard the word ‘investing’. Encourage your teenager to ask about financial concepts they do not understand. A good starting point is to explain how the stock market works. Avoid using too much jargon; just start with the basic principles of how one can make money from investing. Show them a historical graph of the TSX, for instance. This provides a visual when explaining how stocks work: there is a risk of losing money over the short term, but over time you tend to make more money. </p><h3>Suggest a part-time job</h3><p>At this age, young teens start going out more often with their friends on their own. To give them a sense of responsibility and teach them how to manage money, encourage your teen to take on a part-time job. They will learn how things you purchase are measured by time in the hours you work. Your teen can develop a better understanding for the value of work and money, and learn to manage purchases in a reasonable way. </p><img alt="" src="https://assets.aboutkidshealth.ca/AKHAssets/financial_literacy_teaching_kids.jpg" style="BORDER:0px solid;" />https://assets.aboutkidshealth.ca/AKHAssets/financial_literacy_teaching_kids.jpgFinancial literacy: Teaching kids about moneyFalse

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